Stryker is acquiring Inari Medical for $80 per share in cash

Stryker (SYK) today announced a definitive agreement to acquire all of the issued and outstanding common shares of Inari Medical (NARI) for $80 per share in cash, representing a fully diluted total equity value of approximately $4.9 billion. Under the terms of the definitive agreement, Stryker will make a tender offer for all of Inari’s outstanding common shares for $80 per share in cash. The boards of directors of Stryker and Inari unanimously approved the transaction. Completion of the tender offer is subject to a minimum tender of at least a majority of the then outstanding shares of Inari common stock, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions. Upon successful completion of the takeover offer, Stryker will acquire all remaining shares not tendered as part of the offer through a merger in a second step at the same price as in the takeover offer. The transaction is expected to close by the end of the first quarter of 2025, subject to customary closing conditions. The expected impact on 2025 financial results will be discussed in Stryker’s upcoming fourth quarter 2024 earnings conference call scheduled for January 28.